News & Analysis

In brief: Adamantem makes headway on climate fundraise

The firm has raised A$150m for its Environmental Opportunities Fund.

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Australian private markets firm Adamantem Capital has held a first close on A$150 million ($100 million; €92 million) for its debut climate strategy, the firm has said.

News of the first close was first reported by the Australian Financial Review (subscription required) and subsequently confirmed by the firm. The AFR noted that the firm had engaged impact consulting firm Tideline to determine an impact investing framework for the fund.

Named the Environmental Opportunities Fund, the vehicle has thus far attracted commitments from the Clean Energy Finance Corporation (Australian state-backed climate investor), the Minderoo Foundation (philahtropic organisation), NGS Super (Australian supperannuation fund for teachers) and insurance company Manulife.

Other details:

  • target size is A$350 million;
  • investments will focus on clean energy, natural capital assets and circular economy themes;
  • it has made its first investment, in a sustainable packaging company, PAC Trading.

More background on the fund is available here.